On Wednesday, January 15, President Trump signed a “Phase One” trade deal with China that will reduce some tariffs, but, ultimately, do little for America’s homebuilders according to the National Association of Realtors. While there have been several proposals for reducing America’s housing shortage through constructing new homes at affordable prices, none of these possible items were included in the final deal. Key materials for building houses – like asphalt, cement, screws, bolts, nuts, washers, and circular saw blades – remain as “list 3” items, meaning they will continue to sustain a 25% levy. One positive for the Phase One deal is that any reduction in retaliatory tariffs put in place by China should provide some support for the manufacturing sector.
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